Switzerland Economic Sentiment July 2018

Switzerland: Economic sentiment broadly steady in July

July 30, 2018

In July, the KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—inched down from 101.3 points in June to 101.1. The index currently lies slightly above the series’ long-run average of 100 points, which indicates slightly better-than-average economic activity in coming months.

July’s marginal decrease reflected a negative contribution from the manufacturing, export industries and accommodation and food services, which dragged on the improved outlook in the construction and banking sectors.

FocusEconomics Consensus Forecast panelists expect GDP growth of 2.2% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel sees GDP growth moderating to 1.7%.

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